how to borrow more / unlimted finance

and what is that fixed fee?

Just to put some clarity around the capital growth versus cashflow debate.

Head to the supermarket tomorrow and suggest that you’ll pay for your groceries with forecasted capital growth. See how that goes. I suspect you’ll leave without the groceries. This should help make he bank’s position clearer in why they too are uncomfortable with lending against assumptions that don’t pay their way.

Hi Dean

(There’s a few characters missing from words in your post that makes it tough to read first/second time around – might be worth editing.)

Regarding the rental issue matter – no property is immune from possible rental issues, not even capital growth properties.

You are correct that there is a necessity to incorporate inflation into forecasts. All the financial modelling I do factors inflation into the equation and tracks it week on week against the assets in the portfolio. I use a more realistic inflation figure though – not the low inflation figure that is advertised.

blackhotel wrote:

Coogee126,
Check out this guy “Chris Gray”, Just Google him. Watch his video at the CPA convention. He invests in Coogee & Bondi. I love his attitude towards finance & the Banks. He will turn your head around with a different way of thinking. He has turned me into an investor madman (in a good way). I have some other very creative ways of getting the banks to approve your loans, but I cannot write on the forum, but PM me and I’ll explain.

your concept is interesting, but don’t know if many people out there have the nerves or the ethics to do it
then again Australia’s historical foundation was started by criminals? :D

Richard Taylor wrote:

Hi Charlie

Yes it is caused Mortgage Fraud and has nothing to do with nerves.

Cheers

Yours in Finance

one person’s bad guy is another person’s good guy.

what do the general public do with predatory lending by the lender?
why does lender discriminate by charging high interest rate for investment property than for owner-occupy property?

Terryw wrote:

I thought you were trying to become a broker?

connect the dots for me, i’m trying to understand this relationship

CharlieX wrote:

so as a buyer’s agent, if the price is at $800k why would you want to negotiate it down to $700k?

I can’t spreak for anyone else but majority of my business comes from referrals. So my motivation to get each client the very best price is based on a desire for then to be so totally happy with the outcome that they will spontaneously tell their friends, cousins, workmates etc about the service.

Richard Taylor wrote:

I am with knightm there is a point in life where doing the right thing by the client is better than trying to make the maximum dollar out of every client.

In the 26 years i have been running businesses i have never formally advertised and like an earlier poster stated referral business in my opinion is the best form of business.

Back to the original post CharlieX made if you can’t see how lodging an application with false information is wrong then i don’t see you lasting more than 5 minutes in this industry.

Cheers

Yours in Finance

maybe I was sleeping during Cert IV and Diploma classes when the instructors mentioned about lie detector test to all the clients before we brokers could go to the next step. I would say most finance brokers are not psychics enough to know whether a client is lying or truthful. as a broker I will do my role base on the information presented to me from the client, until a lie detector test is a requirement will I be using that as another assessment tool. to simply discriminate and profile a client base on his/her look, race, gender, etc is far more a dis-service to the industry as a broker. lately I’ve been wondering does the term “white collar crime” has some relationships to the fact that most of these criminal acts are committed by white people?

any person who is a professional knows that creditability and reputation goes a long way in his/her profession.

Regretfully ‘solely relying on information provided by the client’ is insufficient in the eyes of ASIC when it involves Mortgage Broking.

You cannot merely say oh the client never told me so I didn’t ask questions.

Cheers

Yours in Finance

Terryw wrote:

Charlie X – what would you do if you suspected a client was attempting to fraudulently borrow money from a lender?

I won’t be a party to the crime